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Would small businesses be more affected by a change in the minimun wage than large businesses?...

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Would small businesses be more affected by a change in the minimun wage than large businesses? Explain your answer.

Minimum Wage:

Minimum wages are a form of government intervention in the labor market. Governments do this to help workers at least earn so much that they can survive. The minimum wage depends on the condition of the economy.

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Large businesses can afford to pay higher wages to their workers. This is not possible for small businesses due to their lower profits. If the minimum...

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What is a Minimum Wage? - Definition & History

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Chapter 7 / Lesson 12
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Understand the minimum wage definition in economics. Discover the history of minimum wage in the U.S., and explore the advantages and disadvantages of imposing a minimum wage. Learn the difference between federal and state minimum wage.


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